Top 5 Money Lies Keeping You Broke

Money lies are especially dangerous because they can cost you decades. Imagine one mistake that cost you 10 years, it’s like a prison sentence. And we tend to say, we have been lied to, and that’s partially true. But at a certain point, we start lying to ourselves and then we start lying to others, and since we believe those lies, it's easier to convince other people. 💲Patreon Exclusive💲 https://www.patreon.com/tommybryson 😎Call Me😎: https://bit.ly/30IBr0i 😎Second Channel😎: https://bit.ly/3c4sVPS 👨🏽‍💻Financial Freedom Course👨🏽‍💻$100 OFF CODE: LONGTERM Link: https://longtermteam.teachable.com/p/financial-freedom-steps-from-nothing-to-freedom 1. you afford the monthly payment - no look at the sticker price - how do you get someone to buy a $2,000 dollar foam - you give them low payments and good terms that’s how they got me: - I bought a mattress for 2000 dollars and it was a twin mattress and they gave me a free pillow and 0% interest (it is still bad ) The same logic goes with cars: - I can afford a $500 car payment for 5 years ( are you stupid) - When you can just save up 3k and buy a used Toyota or Honda - And in 5 years have invested 30k or paid of 30k in debt 2. Its free money with credit cards - I had 13 credit cards - I got 300 and 500-dollar bonus - I got cards that gave me 2 to even 5% cash back - I got cards that gave me 18 months to pay things off Truth is: - I can’t recall any of the stuff I bought - But I can tell you that 95% of everything I bought was garbage and things that I did not need - I also spent more money than I would No free lunches, no hands out, and this is a business ( when you play with snakes, even if you are a snake handler eventually you will get bitten ) - You can believe me or not - But you won't be in your 50s talking about credit card points making you rich 3. It's an investment ( buying something like a house that’s beyond your budget ) - Yeah I bought a $400,000 house but it is an investment - Yeah, I bought this car but it is an investment - Yeah it’s a $1000 iphone but it's an investment An investment is Something : - That makes you an appropriate return without risking your capital to much - A house costs you money - A car costs you money and goes down in value - An iphone I won't even go into detail Not everything you buy in life has to be an investment, but the things you invest into must be investments - Buy a home you can pay off in 15 years or less - But a car you can pay for in cash - Buy a phone will help you lower your screen time and keep your wallet bigger 4. You gotta spend money to make money ( true but not like that ) - Every year I go broke, and I’m left with $0 In my pocket - I invest everything I have - And that’s paid off big (until the day that It doesn’t) Making money: - Is about putting money to work, and treating it like an employee - Give an employee an impossible task ( no matter your conviction or motivation, he can't do it ) - Give an employee a task below his level, and you can't expect much from him - How your money performs says a lot more about you than about it 5. The rich get richer and the poor get poor ( progression and regression graph – - Is that true, it's not; we live in a country where almost 80% of all millionaires are first-generation - Means they didn't inherit their wealth, they made it - So poor to rich and now richer, beucase what made them rich will make them more rich You just have to know what they did - And then do it - Just know they are in their 50s - These things take time 6. Just use leverage to buy assets and have assets pay for your liabilities 7. Don’t Build a Family they are expensive * PRO TIP* INFORMATION IS EVERYTHING 💲Patreon Exclusive💲 https://www.patreon.com/tommybryson 👕Merch👕 https://teespring.com/stores/tommybryson ✅2 FREE AUDIOBOOKS✅ https://amzn.to/2Enayo8¬¬¬ 🎁ACORN FREE $5🎁 Link: https://acorns.com/invite/38EYSU ⚡FREE KINDLE UNLIMITED⚡ (traditional reading) Link: https://amzn.to/2VGbxt9 👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻 https://discord.gg/EcZEHpA My Camera Gear: https://www.amazon.com/shop/tommybryson ✔ Help Us Reach 600,000 Subscribers: https://goo.gl/0wvm6w 😎All My Social Media😎 Link: https://linktr.ee/tommybryson --- Disclosure & Educational Disclaimer: Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.